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Bitcoin Falls Into Short-Term Consolidation Phase, A Break Above Or Below Will Determine Future Price Action
Summary: After Bitcoin's drop from above $12,000 the currency has found itself oscillating between $10,000 and $10,500 over the past week. As Bitcoin's price enters into a short consolidation phase, several metrics suggest it is facing new resistance at $10,500. The new price ceiling has acted as a resistance level before including in February 2020, June 2020, ...
After Bitcoin's drop from above $12,000 the currency has found itself oscillating between $10,000 and $10,500 over the past week.
As Bitcoin's price enters into a short consolidation phase, several metrics suggest it is facing new resistance at $10,500. The new price ceiling has acted as a resistance level before including in February 2020, June 2020, and several times over the course of 2019, Kiana Danial, CEO of Invest Diva, told Forbes.
She predicts a break above the resistance will lead to gains around $11,150 but a break below support at $10,000 could pull the currency back down to the lower $9,000 region.
By Emily Mason
Tags: Bitcoin,BTC
Link: Bitcoin Falls Into Short-Term Consolidation Phase, A Break Above Or Below Will Determine Future Price Action [Copy]
